Initial Public Offering

Energy
Initial Public Offering

Summary

Baird served as a co-manager in this offering

About

The Cushing Royalty & Income Fund (NYSE: SRF) (the “Fund”) recently completed an initial public offering of 8,300,000 shares of its common stock at a price of $25.00 per share. The offering generated approximately $207.5 million of gross proceeds. The Fund intends to invest the net proceeds from the offering in accordance with the Fund's investment objectives and policies.

SRF is organized as a Delaware statutory trust and is a newly organized, non-diversified, closed-end management investment company. The Fund seeks to achieve its investment objective by investing at least 80% of its net assets in securities of energy-related U.S. royalty trusts and Canadian royalty trusts and exploration and production companies (collectively, “Energy Trusts”), exploration and production master limited partnerships (“MLPs”) and securities of other companies based in North America that are generally engaged in the same lines of business as those in which Energy Trusts and MLPs engage. The Fund is managed by Cushing MLP Asset Management, LP.

For additional information about this transaction, please contact:

Frank Murphy (314) 445-6532
Curtis Goot (314) 445-6540
Kjell Lundal (314) 445-6533
Energy
Initial Public Offering
Date
February 2012
Company
The Cushing Royalty & Income Fund
Transaction
M&A
Sectors
Energy
Target Location
North America

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